That's how it works for me. Keep the bike lubed... wipe off the dirt to keep the moving parts from gumming up. Give the bike a good cleaning from time to time. I tried one of those Pedro chain cleaner things and frankly it seemed easier to just take the chain off and shake it clean in a bottle or can with some solvent.

Back in the days of loose bearings, I would break the entire bike down once a year and rebuild it. Sealed bearings have changed this.